Ex-Warri Refinery MD gets N500m bail in alleged money laundering case

Jimoh Yisawu

• Court adjourns trial of Lamido, sons over counsel’s absence
Justice Inyang Ekwo of the Federal High Court in Abuja has granted the former Managing Director of the Warri Refining and Petrochemical Company Limited, Jimoh Yisawu, bail in the sum of N500 million in an eight-count charge bordering on alleged money laundering.

In a related development, the trial of former governor of Jigawa State, Sule Lamido, and his two sons, Aminu and Mustapha Lamido, in an alleged N1.35 billion fraud, stalled at the Federal High Court in Abuja due to the absence of the lead defence counsel, Joe Agi.

Justice Ijeoma Ojukwu adjourned the proceedings after she was informed that the senior lawyer was unavailable due to a medical procedure.

The Warri Refinery’s former managing director, Yisawu, who is the sole defendant in Charge no. FHC/ABJ/CR/361/2026 pleaded not guilty to all eight counts after they were read to him before Justice Ekwo.

The charge, brought by the federal government, was dated and filed on June 22, 2026.

The prosecution, led by Ekele Iheanacho, SAN, told the court that the defendant allegedly committed offences contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.

In the first count, Yisawu was accused of having “indirectly converted the aggregate sum of over $789,950…being proceeds of unlawful activity,” contrary to Section 18(2)(b) and punishable under Section 18(3) of the Act.

In the second count, the prosecution alleged that he made cash payments exceeding $789,950 to one Samaila Bala without using a financial institution, in violation of the anti-money laundering law.

The government in the fourth count further alleged that Yisawu made cash payments totalling $122,600 through one Rasheed Olaitan Yusuf outside the banking system and due process, in violation of the anti-money laundering law.

Following the defendant’s plea, Iheanacho applied for a trial date. However, counsel for the defendant, Wale Balogun, SAN, informed the court that he had filed a bail application, to which Iheanacho said the prosecution had also filed a counter-affidavit, urging the court to refuse bail.

Nevertheless, Balogun urged the court to maintain the existing bail terms, arguing that the prosecution had earlier granted Yisawu administrative bail and had already seized his international passport.

Citing Section 162 of the Administration of Criminal Justice Act, 2015, Justice Ekwo held that the defendant was entitled to bail. Therefore, he granted Yisawu bail for N500 million with one surety in like sum.

Ekwo also ordered that the surety must be a responsible Nigerian with landed property in Abuja and must submit proof of ownership to the court registrar.

The judge further directed the defendant to deposit his international passport with the court and barred him from travelling outside Nigeria without the court’s permission.

Pending the perfection of the bail conditions, the court ordered Yisawu remanded in the custody of the prosecution. The case was then adjourned until October 25, 26 and 27, 2026, for trial.

Meanwhile, the Economic and Financial Crimes Commission (EFCC) is prosecuting Lamido and his sons on a 37-count charge bordering on alleged money laundering, kickbacks and fictitious contract awards amounting to N1.35 billion, allegations that the accused have denied.

According to the anti-graft agency, the alleged offences were committed during Lamido’s tenure as governor of Jigawa State between 2007 and 2015.

At the resumed hearing, prosecution counsel, Chile Okoroma, SAN, told the court that the defence had written to notify him of Agi’s inability to attend court because of surgery, and requested an adjournment.

While wishing the defence counsel a speedy recovery, Okoroma argued that another lawyer from Agi’s legal team should have appeared to ensure that the trial continued, noting that the case has been pending since 2015.

Urging the court to grant only a one-day adjournment, the prosecution further drew the court’s attention to the fact that Justice Ojukwu had travelled from her Calabar judicial division in Cross River State to sit in Abuja for the matter.

In her ruling, Justice Ojukwu agreed with the prosecution’s request and adjourned the case until Tuesday, July 21, 2026, to continue the trial.

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